HS Icon Precious Metals

XIV (Harmonized System 1992 for Section)

World Trade (2018): $607B, Rnk 10 / 21

Top Exporter (2018): $80.1B, Switzerland

Top Importer (2018): $88.8B, Switzerland

Product Complexity (2018): -1.73, Rnk 20 / 21

Export Growth (CAGR)(2017 - 2018): 4.91%, Rnk 20 / 21

Mean Tariff (2018): 7.62%, Rnk 14 / 21

Share of World Trade (2018): 3.3%, Rnk 10 / 21

Overview:  This page contains the latest trade data of Precious Metals. In 2018, Precious Metals were the world's 10th most traded product, with a total trade of $607B. Between 2017 and 2018 the exports of Precious Metals grew by 4.91%, from  $578B to $607B. Trade in Precious Metals represent 3.3% of total world trade.

Exports: In 2018 the top exporters of Precious Metals  were Switzerland ($80.1B), United States ($49.5B), India ($41.2B), United Kingdom ($39.2B), and United Arab Emirates ($38.8B).

Imports: In 2018 the top importers of Precious Metals were Switzerland ($88.8B), Hong Kong ($69.2B), India ($64.2B), United States ($54.3B), and United Arab Emirates ($53.6B).

Tariffs: In 2018 the average tariff for Precious Metals was 7.62%, been the 14 lowest tariff using the Section product classification.

The countries with the highest import tariffs for Precious Metals are Angola (45.8%), Ethiopia (32.1%), Cameroon (29.4%), Gabon (29.4%), and Chad (29.4%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Sri Lanka (0%), Singapore (0%), and Switzerland (0%).

Ranking: Precious Metals ranks 20th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Switzerland, $80.1B

Top Destination (2018): Switzerland, $88.8B

Precious Metals are the world's 10th most traded product.

In 2018, the top exporters of Precious Metals were Switzerland ($80.1B), United States ($49.5B), India ($41.2B), United Kingdom ($39.2B), and United Arab Emirates ($38.8B).

In 2018, the top importers of Precious Metals were Switzerland ($88.8B), Hong Kong ($69.2B), India ($64.2B), United States ($54.3B), and United Arab Emirates ($53.6B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Kingdom, $12.2B

Top Destination Growth (2017 - 2018): United Arab Emirates, $15.8B

Between 2017 and 2018, the exports of Precious Metals grew the fastest in United Kingdom ($12.2B), United States ($10.4B), Canada ($6.69B), China ($5.26B), and Thailand ($4.69B).

Between 2017 and 2018, the fastest growing importers of Precious Metals were United Arab Emirates ($15.8B), United States ($10.7B), France ($5.24B), Saudi Arabia ($3.65B), and Cambodia ($3.63B).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Precious Metals.

In 2018,  market concentration measured using Shannon Entropy, was 5.04. This means that most of the exports of Precious Metals are explained by 32 countries.

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TOP NET EXPORTER (2018): South Africa, $33.8B

TOP NET IMPORTER (2018): Hong Kong, $41.7B

This map shows which countries export or import more of Precious Metals. Each country is colored based on the difference in exports and imports of Precious Metals during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Precious Metals were South Africa ($33.8B), Australia ($11.4B), Russia ($10.5B), Canada ($10.2B), and Ghana ($10B).

In 2018, the countries that had a largest trade value in imports than in exports of Precious Metals were Hong Kong ($41.7B), China ($27.9B), India ($23B), United Arab Emirates ($14.9B), and Switzerland ($8.68B).

Trade Forecasts

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This section shows forecasts for total trade for Precious Metals. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Precious Metals was 7.62%.  The countries with the highest tariffs for importing Precious Metals were Angola (45.8%), Ethiopia (32.1%), Cameroon (29.4%), Gabon (29.4%), and Chad (29.4%).

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Product Complexity

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Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.